what i can claim on taxes for at home business??

Question

I have a at home business that i started about 10 months ago i need to know if anyone can tell me what i can claim on my taxes.
I use the internet and phone for the business. I purchased url i have purchased leads. ect.
Please help if anyone might know an answer.

Answer 1

Basically, you can claim any reasonable and customary expenses of making the money you make in your business. If you have an area of your home that you use regularly and exclusively to run your business, you can take home office expenses. But if you have your office in a spare bedroom that's also used occasionally as a guest room, that would not be "exclusive" so you couldn't take a home office deduction.

It would be a good idea to talk to a CPA to get specifics on this - he or she can very possibly come up with a list of eligible expenses you might not be thinking of.

Answer 2

You can claim part of your house pmt, electric, phone, water but you have to have a designated "office area" to do so.